First Citizens Bank & Trust Co. Raises Stock Position in Elevance Health, Inc. $ELV

First Citizens Bank & Trust Co. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 19.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,017 shares of the company’s stock after acquiring an additional 5,139 shares during the period. First Citizens Bank & Trust Co.’s holdings in Elevance Health were worth $10,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC raised its holdings in Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health during the 2nd quarter worth $32,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares in the last quarter. Motco boosted its position in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in Elevance Health in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.4%

Shares of ELV opened at $370.77 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a market capitalization of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The stock has a fifty day moving average of $349.17 and a two-hundred day moving average of $328.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELV. JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Wolfe Research set a $425.00 target price on Elevance Health and gave the company an “outperform” rating in a report on Thursday, January 8th. Bank of America boosted their price target on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.63.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.